Rio Tinto pulls the plug on Tiwai, wiping $2.8b off gentailers

Rio Tinto pulls the plug on Tiwai, wiping $2.8b off gentailers
Dan Brunskill
Energy stocks sank in early trading after Rio Tinto said it will shut the aluminium smelter at Tiwai Point next year, wiping more than $2.8 billion off the value of the country's five biggest electricity generator-retailers. New Zealand Aluminium Smelter - a joint venture between Rio Tinto and Sumitomo Chemical - has given Meridian Energy notice to terminate the smelter’s power contract when it ends in in August next year, by which time operations will be shut. Meridian shares sank 18 percent when trading opened on the NZX, and were recen...

More Infrastructure

Channel increases dividend, mulls ASX listing
Infrastructure

Channel increases dividend, mulls ASX listing

Dividend up from 11c to between 12c and 12.5c. 

Ian Llewellyn 23 May 2025
The elephant in the room
Policy Opinion

Katrina Van Houtte: The elephant in the room

Budget 2025: Cross-parliamentary consensus is needed for infrastructure projects to flow. 

Budget 2025: 'No big bang' for infrastructure
Infrastructure

Budget 2025: 'No big bang' for infrastructure

Only one of three non-roading PPPs got funding in the Budget.

Oliver Lewis 23 May 2025
Euro Corp earnings crash as demand contracts
Infrastructure

Euro Corp earnings crash as demand contracts

The steel maker has been bashed by Trump tariffs and ongoing uncertainty.

Victoria Young 22 May 2025